Ford 2014 Annual Report Download - page 159

Download and view the complete annual report

Please find page 159 of the 2014 Ford annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 200

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 17. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)
The changes in the accumulated balances for each component of AOCI attributable to Ford Motor Company for the
years ended December 31 were as follows (in millions):
2014 2013 2012
Foreign currency translation
Beginning balance $ (1,746) $ (1,245)$ (1,386)
Gains/(Losses) on foreign currency translation (702)(665)156
Less: Tax/(Tax benefit) 53 (53) —
Net gains/(losses) on foreign currency translation (755)(612)156
(Gains)/Losses reclassified from AOCI to income (a) 153 111 (15)
Other comprehensive income/(loss), net of tax (602)(501)141
Ending balance $ (2,348) $ (1,746)$ (1,245)
Derivative instruments (b)
Beginning balance $ 40 $ (175)$ (181)
Gains/(Losses) on derivative instruments (271)317 (371)
Less: Tax/(Tax benefit) (96)141 (115)
Net gains/(losses) on derivative instruments (175)176 (256)
(Gains)/Losses reclassified from AOCI to income (78) 80 377
Less: Tax/(Tax benefit) (71) 41 115
Net gains/(losses) reclassified from AOCI to net income (c) (7) 39 262
Other comprehensive income/(loss), net of tax (182)215 6
Ending balance $ (142)$ 40 $ (175)
Pension and other postretirement benefits
Beginning balance $ (16,524) $ (21,438) $ (17,170)
Prior service cost arising during the period (11)2 (32)
Less: Tax/(Tax benefit) (2) — (1)
Net prior service cost arising during the period (9) 2 (31)
Gains/(Losses) arising during the period (3,321) 5,404 (6,931)
Less: Tax/(Tax benefit) (1,088) 1,883 (2,238)
Net gains/(losses) arising during the period (2,233) 3,521 (4,693)
Amortization of prior service costs/(credits) (d) (19)(43) (253)
Amortization of (gains)/losses (d) 891 1,499 966
Recognition of (gains)/losses due to curtailments (d) — (2) (11)
Recognition of (gains)/losses due to settlements (d) 19 599 250
Less: Tax/(Tax benefit) 259 632 304
Net amortization and (gains)/losses reclassified from AOCI to net income 632 1,421 648
Translation impact on non-U.S. AOCI balances 592 (30) (192)
Other comprehensive income/(loss), net of tax (1,018) 4,914 (4,268)
Ending balance $ (17,542) $ (16,524) $ (21,438)
Total AOCI ending balance at December 31 $ (20,032) $ (18,230) $ (22,858)
__________
(a) The accumulated translation adjustments related to an investment in a foreign subsidiary are reclassified to Automotive interest income and other
income/(loss), net, Financial Services other income/(loss), net, or Equity in net income of affiliated companies.
(b) We expect to reclassify existing net losses of $145 million from Accumulated other comprehensive income/(loss) to Automotive cost of sales during
the next twelve months as the underlying exposures are realized.
(c) Gains/(losses) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Automotive
cost of sales. See Note 16 for additional information.
(d) These AOCI components are included in the computation of net periodic pension cost. See Note 12 for additional information.
FS-53